Question: 1- Briefly explain and contrast operating budgets & financial budgets. 2- Briefly explain and contrast flexible budgets & static (conventional) budgets. 3-. Briefly explain the

1- Briefly explain and contrast operating budgets & financial budgets.

2- Briefly explain and contrast flexible budgets & static (conventional) budgets.

3-. Briefly explain the meaning of budgetary slack. Discuss one way that an organization can follow to reduce the problems caused by budgetary slack.

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